FANews
FANews
RELATED CATEGORIES
Category Investments

Dropping the fee

09 March 2005 Angelo Coppola

Investec Asset Management will reduce the initial fees on all of its unit trusts open to new direct investment.

They have reduced the initial fees for all new direct investments into their unit trusts from 2.0% to only 0.25% for equity, absolute and asset allocation funds; and from 0.40% to 0.25% on fixed income funds.

As initial fees are broken down into the asset manager's fee and the financial advisor fee, independent financial advisors are still able to charge an additional initial fee of up to 3%.

This fee is however negotiated between a client and their advisor. This means the maximum published initial unit trust fee will now be 3.25% (reduced from a maximum of 5.00%) on equity products; and 0.85%, (reduced from 1.00%) on fixed income products.

The current annual management fees on Investec's unit trusts remain unchanged.

Quick Polls

QUESTION

What is your one-liner for the 2024 National Budget speech?

ANSWER

Creepy failure to adjust income tax, medical tax credits
Overall happy, it should support economic growth
Overall unhappy, soaring public sector wages and broken SOEs suck..
There are too few taxpayers, too many grant recipients.
fanews magazine
FAnews February 2024 Get the latest issue of FAnews

This month's headlines

On the insurance industry’s radar in 2024
Insurers, risk managers unsure of AI’s judgement credentials
Is offshore the place to be in 2024?
Gap claims: erosion of medical benefits, soaring specialist fees
Investments and retirement… is conventional wisdom under threat?
Subscribe now